Today banks and fintechs can empower their clients to choose smarter options for a more liveable future.
Besides, COVID-19 has drastically changed consumer attitudes and lead people to search for environmental-friendly solutions in many aspects of their lives.
But more details about that later.
On this page, we’ll give an overview of how Thales is supporting banks and fintechs sustainable practices with its payment card solutions and services and helps to:
• Reduce single-use plastics
• Scale down PVC in payment cards
• Reach carbon neutrality
• Slash packaging and paper waste
• Cut down plastic waste and save energy.
These solutions have already helped several eco-conscious banks and fintechs implement eco-sustainable solutions for their banking cards and related services in the past months.
Let's dive right in.
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Consumer awareness about climate change is growing.
The pandemic is modifying consumption and lifestyles across the planet.
A recent study conducted in 24 countries (Mastercard – April 2021 – 25,519 adults interviewed) showed that consumer awareness about climate change has been increasing rapidly and globally as a result of the pandemic.
- 85% of consumers believe that they can personally act to slow down climate change and are willing to take action.
- More than half give more importance to reducing their carbon footprint than they had before the pandemic.
- Consumers want companies to slash waste (37%), reduce air and water pollution (35%) and deal with plastic pollution in packaging and product (35%).
The message the banking industry is getting from this survey is clear: we need to help our clients make changes if we want a survivable future— it is now, and it's up to us.
The good news?
When customers need a payment card, banks now have a wide range of options at their disposal to scale down the impact on the environment significantly.
We’ve devised the ideal customer card journey for a bank driving its sustainability strategy.
#1. Reduce single-use plastics
It starts with reducing plastic footprint by using far less first use-plastics.
For example, Thales Gemalto Recycled PVC cards enable banks to replace first-use plastic in bank cards while using plastic waste from the packaging and printing industries. It significantly cut down first-use PVC by 85%.
This Recycled PVC material has received accreditation from the UL recycled Content Environmental Claim Validation.
We’ve launched Thales Gemalto Reclaimed Ocean Cards. They use plastic reclaimed from coastal areas which would otherwise end up in the world’s oceans.
Discover also our green OTP tokens using second-life plastic.
#2. Scale down PVC in payment cards
Why not use an eco-friendly substitute to plastic for credit cards?
With Thales Gemalto Bio-Sourced Cards, you can reduce by 80% the amount of PVC in cards.
How is that possible?
They are made from Poly Lactic Acid (PLA) – a sustainable plastic alternative for biodegradable cards.
#3. Reach carbon neutrality
Numerous responsible banks are taking initiatives to reduce their carbon footprints.
Some are even targeting carbon neutrality for some of their activities, products, and services.
They combine internal optimisation and support external emission reduction projects.
The Thales Gemalto Carbon Offset programme helps organisations compensate for the carbon footprint of their cards comprehensively.
Your cards can not only be carbon neutral but also feature a carbon-neutral logo to demonstrate their green credentials to your customers.
It’s a visible sign showing a bank’s dedication to reducing its carbon footprint.
#4. Slash packaging and paper waste
Banks can take complete control of their card issuance and remove the barriers of delivery by post to ensure their clients get their cards immediately.
With Thales Gemalto Instant Issuance, financial institutions of any size can set up their in-branch issuance solution.
Customers get their cards immediately and can enjoy a stress-free and convenient issuance experience.
In addition, you can say bye to mailers and costly packaging.
Moving to Thales Gemalto Digital PIN, your customers will also get their card PIN by SMS, via an app, or the web.
And the silver lining is that, according to Firetext averages, these new processes can slash by more than 1000 times the carbon footprint of former operations.
#5. Reduce plastic waste and save energy.
Card recycling is unquestionably a challenge for many banks.
Typically, consumers throw them away in a bin after cutting the card into pieces, according to our 2020 research (What to do with old credit cards?)
It turns out that we can help you select the right solution for your customers.
Thales' role is to ease your end-of-life cards management.
We act as an intermediary between you and our partner recycling companies.
We work with partners to recycle banking cards. This process includes energy recovery from the plastic through incineration.
The metal in the payment cards is also recycled and then used in other industries, such as jewellery and electrical circuit manufacturing.
This is highly effective, as it means 0% of these materials end up in a landfill.
Mobilise our expert teams.
Thales focuses on collaboration and eco-innovation.
More specifically, we support banks in every aspect of a bank card's life, from eco-friendly credit cards to carbon offset programs and recycling.
That's the reason why we offer a complete set of tools that enables our clients to build a consistent, environmentally sustainable strategy.
Thales has already delivered millions of green cards and services around the world to more than 25 customers.
Now it’s your turn.
Today, you can empower your consumers to take action to combat climate change.
It’s an eco-journey that can start today.
With its eco-friendly cards and related services, Thales encourages banks and issuers to adopt eco-sustainable practices.
If you have a question on sustainable payment cards or a remark to make, we’ll be delighted to answer.
We’re looking forwards to hearing from you.
More resources on sustainable bank cards, processes, and use cases
• Payment cards: what’s wrong with PVC?
• Revisiting eco-friendly credit cards – Doconomy is reshaping the green card model
• Eco-friendly bank card’s life cycle: supporting your environmental-friendly practices
• Innovative card bodies and design
• Card personalisation services
• Design services
• Mobilise our Bank consultants and payment experts
• Contactless payment
• EMV basics (2021 update)
• Visit our Thales blog: https://dis-blog.thalesgroup.com/financial-services/